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Inland Water Transport Market Size, Opportunities And Strategies 2024-2033
Inland Water Transport Market Size
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According to The Business Research Company's, The inland water transport market size has grown strongly in recent years. It will grow from $20.51 billion in 2023 to $21.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to agricultural transport, bulk cargo transport, infrastructure development, environmental advantages, trade and commerce, industrialization.
The inland water transport market size is expected to see strong growth in the next few years. It will grow to $28.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to sustainable practices, inland port development, tourism development, river restoration projects, economic growth in riverine areas, water resource management. Major trends in the forecast period include fleet with eco-friendly technologies, smart ports and terminals, inland waterway information systems, predictive maintenance systems, intermodal connectivity with rail and road.
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Market Drivers:
Recently, companies are encouraging lean and green inland transportation. For improved efficiency, companies are focusing on natural gas in shipping, improved vessel designs, efficient loading and unloading of cargo, and many more. The companies are also retrofitting old equipment in ships with emission reduction devices, hull cleaning and coating, and high-performance propellers and nozzles. Certain advanced propulsion systems, such as fuel cell hybrid drive technologies, will be available soon in the market. With these efforts, the inland transport market is seeing steady growth in the upcoming years.
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Major Key Players of the Market:
Deutsche Post AG, AP Moller - Maersk A/S, CMA CGM Group, Carnival Corporation, Nippon Yusen, Hyundai Merchant Marine America, Kirby Inland Marine, Ingram Marine Group, Groupe Beneteau, Bayliner Boats, American Commercial Lines LLC, Rhenus Group, Florida Marine Transporters, Alnmaritec Ltd., ACBL Transportation Services, Marquette Transportation Company, Canal Barge Company, Blessey Marine Services, Seacor Holdings Inc., G&H Towing Company, European Cruise Service, Main Iron Works LLC, American River Transportation, Cenac Marine, ST Shipping and Transport Inc., Campbell Transportation Company, Safewater Lines, Heartland Barge Management, Waterfront Shipping Company Limited, Eiger Shipping SA, Central Inland Water Transport Corporation Limited, Savage Inland Marine.
Inland Water Transport Market 2024 Key Insights:
• The inland water transport market size is expected to see strong growth in the next few years. It will grow to $28.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Advancing Inland Transportation For Efficiency And Sustainability
•
• Western Europe was the largest region in the inland water transport market in 2023
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